November 21, 2022 (4 Trades) (+$215.77)

Overall Grade: B+

Day Summary: Today was my first green day over $200 this year!! The flip side of that is I have probably 15+ red days over $200. I also have to recognize that, even though I had a great day in terms of P/L, I still had some mistakes and was quite lucky. First mistake of the day was taking a trade by accident when trying to copy the option I was trying to play to put it in a watchlist on the side. This resulted in a quick 30$ loss (36$ with commissions) right off the bat after having a bad trading day on Friday. I was able to quickly scalp that money back in my first real trade of the day, but I need to be careful. Thankfuflly that was just 5 contracts and not 50. I also made a great 100$ short trade on XOM, but in reality, this trade did not really follow any of my defined set ups for day trading. I will show the trade below, but I want to remind myself that this wasn't neccesarily I trade I should have taken, even though it worked out great. Sometimes it's better to be lucky than good.

*Note* I am not including the accidental trade in the review. Rather just forget it and not let it happen again.

1YR:1D - SPY

1D:5M - 1D:1M - SPY

                                                    Trades

Trade 1 - Long 5 Call Contracts - Holding PM High/Trendbreak Retest

Grade: C+

  • This trade does not need to be taken
  • Sure it was an intended scalp, and it worked, but that doesn't mean it was worth it to take this trade, even though it got me back to breakeven after the accidental trade
  • I at least didn't try to catch it on the first red candle to test PM High, and waited for the next candle to show that it was holding PM High, but this very easily could have sold off to VWAP

FIX: Focus on taking trades with a good R/R and stronger set up

 

Trade 2 - Long 5 Puts @ VWAP Retest, Lower High

Grade: A

  • This is a trade I should be sized into as it was a high probability win. I'm glad I took this trade with 5 contrcats and didn't size down after a sketchy start to the day
  • The mistake I made in this trade was, after taking off 2 con